Finance Redefined: Solana and Nomad bridge fall prey to exploits losing millions Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. This past week, the DeFi ecosystem saw two exploits one after another resulting in the loss of millions of dollars. First, cross-bridge token platform Nomad became a victim of […]
SOL Loses $40 After The Exploit – What’s The Next Support? Solana’s price is unstable following an exploit by hackers draining funds with the use of external applications. Around 8,000 wallets were hacked from Phantom and Solana, with roughly $8 million stolen from users. The coin’s price immediately nosedived to $40 with support at $35. A Solana NFT marketplace, Magic Eden, advised wallet users of Phantom […]
Solana-hacked crypto could be claimed as a tax loss: Experts For unlucky crypto investors looking to turn lemons into lemonade — it turns out that digital assets lost during an exploit or hack can potentially be claimed as a tax loss, provided you live in the right country, experts told Cointelegraph. Following the news that more than 8,000 Solana wallets had been compromised and that […]
Solana Hot Wallets Suffer Ongoing Attack, Roughly $5M Stolen Thus Far We’re on the heels of cross-chain bridge Nomad suffering a demolishing hack earlier in the week, and now hackers are doubling down with an attack on Solana hot wallets mid-way through the week. On Tuesday afternoon, reports emerged of some sort of vulnerability that was taking advantage of Solana-based wallets. Approaching 24 hours later, there […]
Price analysis 8/3: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX Bitcoin (BTC) and altcoins are tracking the United States equities markets higher on Aug. 3 as traders buy the dip. Smaller investors seem to be making the most of the bear market in Bitcoin as the number of wholecoiners has soared by 40,000 since the sharp fall in June. In comparison, wallet addresses with more […]
The US Gets Another Crypto Regulation Idea, USD 9M Returned to Nomad, Zipmex 'Stabilizes' + More News Source: Adobe/JHVEPhoto Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ Regulation news The US Commodity Futures Trading Commission (CFTC) would take the leading role in overseeing bitcoin (BTC) and ethereum (ETH) and the platforms where they are traded under a new […]
Ethereum Price Rises to $1,600 Amid Solana Network Hack Ethereum once again proves it’s the leading cryptocurrency for DeFi, NFT, and smart contracts amid a Solana network attack that saw over half a billion in assets drained from private wallets. Ethereum price is currently trading at $1,656, up over 5% in the past 24 hours and up over 12% in the past seven days. […]
Despite Crypto Downturn, Developers Continue Contributing to Web3 Communities Source: AdobeStock / Seventyfour Blockchain developers have maintained their contributions to Web3 communities despite the latest market downturn, with Ethereum (ETH) leading the way as the strongest and largest community, according to a recent report by VC investment firm Telstra Ventures. Per the report, blockchains developers’ participation in Web3 communities has largely remained unphased during […]
Solana wallets 'compromised and abandoned’ as users warned of scam solutions The cryptocurrency ecosystem has been rocked by a widespread exploit targeting Solana wallets that have been ongoing since Aug. 3. Phantom and Slope, two Solana-based wallet services, initially flagged the attack on their social media platforms, alongside a host of cryptocurrency influencers, blockchain analytic and security firms and victims of the hack as it continued […]
Solana Token Drops As Millions Worth Of User Funds Compromised In The Latest Solana Wallet Hack 8000 Solana wallets compromised in a latest malicious hack. As a result of the hack, the token value of Solana SOL has dropped nearly 4% in the last 24 hours. Solana has been the latest victim of a grand malicious attack, resulting in the hacker siphoning nearly $8 million worth of funds. The hack took […]
Binance, KuCoin, OKX CEOs flex security amid Solana FUD storm With Solana (SOL) hitting the headlines for succumbing to a hack on Aug. 3, prominent crypto CEOs — including Binance’s Changpeng “CZ” Zhao, KuCoin’s Johnny Lyu and OKX’s Jay Hao — recommended SOL investors move their holdings over to their own exchanges as an immediate security measure. Numerous blockchain investigators and crypto investors flagged an […]
SOL Drops as Thousands of Wallets Attacked on Solana Source: AdobeStock / JorgeEduardo SOL, the native token of the Solana network, dropped following reports that thousands of wallets have been drained in apparently still ongoing attack. Per blockchain auditor OtterSec, over 5,000 Solana wallets have been drained in the past few hours. "This affects multiple wallets - Phantom, Slope, Solflare, TrustWallet - across a […]
Ongoing Solana-based wallet hack has already seen millions drained A security vulnerability impacting the Solana ecosystem has reportedly seen millions in funds drained across a number of Solana-based wallets. At the time of writing, Solana (SOL) is currently trending on Twitter as countless users are either reporting on the hack as it unfolds, or are reporting to have lost funds themselves, warning anyone with […]
OpenSea’s Rival NFT Marketplace Magic Eden Announces Support For Ethereum NFTs Leading Solana NFT Marketplace Magic Eden announces support for Ethereum NFTs The firm will also be adding comprehensive features to allow users to trade ETH NFTs and make payments in SOL/ETH or via credit cards. Magic Eden, the Solana-centric NFT platform is expanding its base and has recently announced multichain support for the Ethereum blockchain. […]
Price analysis 7/27: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX United States equities and cryptocurrency markets are heading into the Federal Reserve’s interest rate decision on July 27 on a positive note. This suggests that the market participants believe the Fed will deliver a 75 basis point rate hike, which is in line with market expectations. Some economists expect the Fed to calm the markets […]
Fed policy and crumbling market sentiment could send the total crypto market cap back under $1T The total crypto market capitalization broke above $1 trillion on July 18 after an agonizing thirty-five day stint below the key psychological level. Over the next seven days, Bitcoin (BTC) traded flat near $22,400 and Ether (ETH) faced a 0.5% correction to $1,560. Total crypto market cap, USD billion. Source: TradingView The total crypto capitalization […]
Solana token remains on the watchlist despite bear pressure Solana has lost 5% in 24 hours as cryptocurrencies turn red The decline in crypto tokens is due to profit-taking after weeks of gains. Solana token could break out soon, and investors should be keen. Solana SOL/USD has lost 5% in the last 24 hours as of press time. Maybe you could be wondering; is […]
All 'Ethereum killers' will fail: Blockdaemon’s Freddy Zwanzger Blockdaemon’s ETH ecosystem lead Freddy Zwanzger believes Ethereum will retain its leadership position in the crypto ecosystem over the coming years due to its utility as a smart contract platform and upgrades to the network following the Merge. Speaking to Cointelegraph during the Ethereum Community Conference (EthCC) this week, Zwanzger said: “It'll continue to be […]
FTX CEO and Solana co-founder offer advice for building Web3 ecosystems The blockchain ecosystem is constantly evolving, yet there always seems to be one overarching sector dominating at a given time. For example, decentralized finance (DeFi) projects received an impressive amount of venture capital funding in 2021, making it the most invested sector last year. Findings further show that nonfungible tokens (NFTs) were the second most […]
Solana Price Up 35% This Week Amid Ethereum’s 44% Rise Cryptocurrency markets are bullish today, with Solana and Ethereum prices showing the most significant price growth this week. SOL is up over 35%, and ETH is up 44% in the past seven days, as the global cryptocurrency markets top the $1 trillion market capitalization level. Solana Price Prediction – Solana Price Breaks Through $45 Resistance […]
